11.3 Financial professionals

In this section:


Someone does not know how to choose between different types of financial professionals.

You can develop your own financial plan using online tools and templates. But expert advice can also help you. For example:

  • Some areas of personal finance, such as investing and taxes, have complex, technical rules. If you have questions about such areas, it is often best to get advice from an expert to ensure that you don't make expensive mistakes or break any legal rules.
  • It's important to understand how each area of financial planning can affect another area. An expert planner can look at all aspects of your financial situation and understand how they relate.
  • You may not have enough experience or expert knowledge to match your financial goals with specific investments.
  • Sometimes you want expert advice to help you recognize and avoid potential frauds.
  • Sometimes you are just not comfortable doing financial calculations by yourself.

Many types of financial professionals are able to give you useful advice. This module looks at how to decide when you want professional advice and how to choose a financial professional who can meet your needs. You will explore:

  • what a financial professional does
  • the different types of financial professionals
  • how to choose a financial professional
  • how to work with and assess your financial professional.

You'll use a checklist to review whether you could use a financial professional. Then you'll review some suggestions for what to look for in a financial professional and where to get one. You'll review worksheets on selecting and assessing a financial professional. By the time you finish this section, you'll be able to decide if you need a financial professional, what kind you need and how to work with one that you have selected.

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